Apr 23, 2025
6 1
Bitcoin and Ether Futures Open Interest Increase Amid Trade Optimism
Bitcoin and ether experienced significant price increases, driven by improved investor sentiment following a reduction in U.S.-China trade tensions.
- Bitcoin rose 6.79% to nearly $94,000, marking its best single-day gain since April 9.
- Ether surged 11% to $1,175, its strongest performance since April 2.
- U.S. Treasury Secretary Scott Bessent and President Trump discussed easing tariffs on Chinese goods and affirmed support for Federal Reserve Chair Jerome Powell.
- Open interest in BTC perpetual futures increased by 10% to $17.83 billion, the largest rise since March 2.
- Ether's open interest grew nearly 16% to $6.60 billion, the highest increase since November 27.
- A short squeeze likely contributed to the price surge as funding rates were negative prior to the rally.
- Moderately positive annualized funding rates for BTC and ETH range from 5% to 10%, indicating bullish sentiment among traders.
